Eastside Real Estate & Development News
In this issue of Real Estate Monday: An apartment association is seeking to overturn Los Angeles' ban on evictions and rent freeze imposed during the pandemic. $10 million will be spent to a mile-long trail along the L.A. River. And new home projects are moving ahead in Eagle Rock and Highland Park. Read on for details!
A landlords group has sued the city of Los Angeles, alleging that the COVID-19-related citywide ban on evictions and rent increases violates apartment owners' rights under the U.S. and California constitutions, says CBS2. The Apartment Association of Greater Los Angeles argues that while its members are sympathetic to tenants who have suffered hardship due to the pandemic, the ordinances allow tenants who actually have the ability to pay all or some of their rent to ignore their contractual obligations for the foreseeable future, according to the complaint filed in federal court. The apartment association is seeking a court order invalidating the eviction ban and rent freeze.
Renderings have been filed for 14 new homes being planned for 4875 W. Onteora Way. The renderings appeared by way of an elevation plan for the project. The 14 single-family homes are to occupy 4.35 cares of hillside area. The developers are currently seeking a Vesting Tentative Tract Map for merging and subdividing the lot.
East Los Angeles
Plans for 78 units of permanent supportive housing got the go-ahead from the Los Angeles County Board of Supervisors, Urbanize reported. The developer, National CORE, is now lined up to buy a .59-acre vacant lot at 3rd Street and Dangler Avenue - a block and a half from the Maravilla stop on the Metro Gold Line - for about $1.4 million. The $42-million development for the site is to feature four stories of affordable and supportive housing for formerly homeless people and those earning at or below 60 percent of the area median income.
Funding to build a one-mile river greenway along the eastern bank of the L.A. River was approved by the Santa Monica Mountains Conservancy, The Eastsider reported. The Paseo del Río project will be the first of many developments intended to turn the former Taylor Yards rail yard into a sprawling park and recreation area next to the Los Angeles River. The conservancy approved three grants totalling $10 million to design and build the path that will link the California State Parks-owned Bowtie parcel near the 2 Freeway to what's called the G2 parcel, a 40-acre chunk of property that the City of Los Angeles purchased for $60 million in 2017.
Nine small-lot homes are being planned for 6105-6107 N. Toltec Way, according to documents from the city. The Vesting Tentative Tract Map was already approved in 2018 (at which time there were no existing public sewers available for the development). The latest document does not indicate whether the project has moved forward since then.
That’s it for this issue of Real Estate Monday.
— Barry Lank & Jesús Sanchez